Additional Factors to Consider when Selling Your Home in a “Buyers Market”

In my initial article “Important Factors to Know when Selling a Home in A Buyers Market”, I discussed general market conditions and the role of your real estate broker.  Supplementing my initial article, here are some more factors to consider:


Before putting your house for sale in Staten Island try to examine it from a buyer’s perspective.  Have you done everything possible to allow the house to be shown in its best possible light?  Cleaning, getting rid of clutter and painting can make a world of difference to a potential buyer and lead to a quicker sale.  Eliminating potential home inspection issues will speed up the contract process.  Clean and get rid of clutter before you show the house.  Your treasures will not be staying when you sell the house so let a buyer see a clean, uncluttered home.  Fresh paint can make your house more appealing and eliminate questions about the source of old problems like leaks.  More and more clients are having an engineer do an inspection of their house before they put it on the market.  For a minimal cost an engineer’s inspection will document structural, mechanical and cosmetic issues that a seller may want to address before buyers see the house.


Call your attorney before you get started. If I know you are preparing to sell your house I can give information on how to save some closing costs and how best to deal with your realtor.  We can discuss your goals and what your realistic outcome will be.  Closing costs can vary so before accepting a price a seller needs to have a true picture of what he will end up with.  Before selecting a broker I want to review the brokerage agreement to make sure it says what my seller thought it meant.  Not all brokers charge the same but low price does not always mean you are getting a good deal.  Many low priced brokers seek to low ball the selling price to get a quick sale so even with a lower commission rate the seller still ends up netting less than with a full service broker.  By calling me before you start with a broker I will be in contact with your broker so as soon as she finds a buyer I can convert a binder into a quick contract.  I ask my sellers to get me copies of your deed, title policy, survey and certificate of occupancy so my contract can be sent out the day I receive the binder agreement.  Having these documents in the beginning of the process allows me to anticipate any potential title issues that could delay or prevent a closing.


A seller who does not adapt to today’s market conditions will not sell his house.  Record foreclosure rates have increased inventory rates and depressed prices.  Sellers who fail to recognize the current realities find themselves saddled with houses for longer periods of time unable to entice today’s more sophisticated buyer.  Make sure you speak to your attorney, find the right realtor and have your home ready to sell.  A motivated seller must have her home correctly priced, in good condition, and be able to anticipate and eliminate potential obstacles to closing.  Don’t give the buyer a reason to second guess his buying decision.  Be flexible and prepared so that when a suitable offer is made a binder and contract can quickly be accepted.